economy

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Race's Sharper Attacks Run Economic Risk
Race's Sharper Attacks Run Economic Risk
ANALYSIS
Oct 7, 2008 6:21 AM CDT

Race's Sharper Attacks Run Economic Risk

Knife-fight tactics are out of place in crisis, strategists say

(Newser) - Barack Obama and John McCain continue to sharpen their verbal barrage on each other ahead of tonight's debate, with Sarah Palin even going so far yesterday as to denounce Obama as "not one of us." But in economic upheaval, both candidates risk sounding off-message or even irrelevant, writes...

Clinton Would Stomp Palin in Prez Race: Poll

Hillary scores 2-1 over Palin among women voters

(Newser) - Hillary Clinton would make moose meat of Sarah Palin in a head-to-head election battle to be president, according to a new poll among women voters. In a theoretical 2012 faceoff,  women voters said they would back Hilary 61% to Palin's 27%, reports the New York Daily News. Clinton is...

In Crisis, Buffett Is Modern JP Morgan

'Oracle of Omaha' offers financial, psychological help to stressed America

(Newser) - Amid the financial panic of 1907, financier JP Morgan stepped in to play the role of central bank, crafting an economic rescue plan and using his personality to offer worried Americans a psychological boost. Today, Warren Buffett’s financial aid to Wall Street and calming influence on Main Street are...

Dire Economy Boosts Obama in Swing States

GOP has hard time making case to worried voters for 4 more years

(Newser) - As voters turn green over the shaky economy, the electoral map is turning blue, according to a New York Times tally. Barack Obama is hitting hard in nine states that George Bush took in 2004 and weren’t expected to be tossups this close to November—forcing John McCain to...

Employers Cut Payrolls at Fastest Rate in 5 Years

Some 159,000 positions disappear

(Newser) - Employers slashed payrolls by 159,000 in September, the most in more than 5 years and a worrisome sign that the economy is hurtling toward a deep recession. Today's snapshot also showed the nation's unemployment rate held steady at 6.1% as hundreds of thousands of people streamed out of...

Thais Take Coffin Naps to Fix Karma

$5 buys a few minutes in monastery's gaudy pink boxes

(Newser) - As Thailand's economy slows and its government falters, growing numbers of deeply superstitious citizens are jostling into a pink coffin to "die," the Telegraph reports. At about $5 a head, monks in a monastery outside Bangkok officiate over the "dead bodies" in the coffins, before ushering in...

Depression, No&mdash;but That Lesson Is Vital
Depression, No—but That Lesson Is Vital
Analysis
Oct 1, 2008 4:20 PM CDT

Depression, No—but That Lesson Is Vital

As credit outlook deteriorates, most important word is 'trust'

(Newser) - Constant references to the Great Depression aren’t alarmist, but the analogy isn't perfect, either, writes David Leonhardt in the New York Times. "The basic mechanics of how the economy might fall into a severe recession look quite similar to those that caused the Depression," he explains. "...

New Voters Back Obama —if They Turn Out

Poll finds newly registered not motivated

(Newser) - Newly registered voters could be a potent force in the presidential election, and heavily favor Barack Obama over John McCain, 61% to 30%, a new NBC/Wall Street Journal/MySpace poll finds. But getting them to vote may be a challenge, reports the Wall Street Journal. Most are young adults, and just...

How Much Is Main St. Willing to Suffer to Punish Wall St.?

The economic hole is deep, and 'we're all in it together': Pearlstein

(Newser) - If people understood how bad the financial situation is, there would be less hostility toward the bailout, writes Steven Pearlstein in the Washington Post. Americans haven't owned up to having helped create the credit bubble that is now deflating, and Wall Streeters haven't owned up to their "greed, arrogance,...

In Poll, More Blame GOP, Bush for Bailout Failure

90% worry economy will suffer more

(Newser) - A poll shows that 44% of Americans blame Republicans and 21% Democrats for the failed bailout, though a majority thought the plan didn't go far enough to protect the public, reports the Washington Post. Respondents were split on the bill: 45% were for it, 47% against it. Still, almost 90%...

New Rescue Hopes Lift Stocks
 New Rescue 
 Hopes Lift 
 Stocks 
MARKETS
Sep 30, 2008 8:44 AM CDT

New Rescue Hopes Lift Stocks

Bargain hunters out en masse

(Newser) - Stocks rose at the open today, as traders bet on a new rescue plan and picked over the wreckage of yesterday’s record-setting drop. The Dow rose almost 218 points, while the Nasdaq and S&P were up 2.5% and 2.6% respectively. “After the absolute carnage we...

Obama Wants to Hike Deposit Insurance

Calls for revived bailout to include increase to $250K from $100K

(Newser) - Barack Obama today proposed to revive the $700 billion bailout lying bloodied on the House floor with a provision increasing federal insurance to $250,000 from the current $100,000, Politico reports. The presidential hopeful called it “a step that would boost small businesses, make our banking system more...

Managing Bailout Only Gets Trickier From Here
Managing Bailout Only Gets Trickier From Here
Analysis
Sep 29, 2008 10:09 AM CDT

Managing Bailout Only Gets Trickier From Here

Government needs to move carefully, particularly on failing banks: experts

(Newser) - The Treasury’s bailout plan won’t end the economic crisis, Steven Lohr writes in the New York Times. It’s merely a first, costly step, and overseeing its workings will be a major undertaking for the next administration, as will assisting homeowners and crafting policies for a less credit-happy...

McCain Casts Himself as Hero of Financial Crisis

Republican can only win by changing subject from policy to himself

(Newser) - In parachuting into Washington to "rescue" the $700-billion bailout for Wall Street, John McCain demonstrated again that he wants to make the election about himself, not his politicies, writes Harold Meyerson in the Washington Post. With the beleaguered economy an area where Barack Obama is seen as stronger, McCain...

Congress Wants More Taxpayer Guarantees

Amid dire warnings and political theater, sides inch closer to compromise

(Newser) - As opposition to the Bush administration’s economic bailout plan became more strident in both parties yesterday, officials began a major push to convince Congress a deal had to be approved quickly, the New York Times reports. The White House said the results of failing to reach an accord were...

McCain Acting Like a 'Flustered Rookie': Will
McCain Acting Like a 'Flustered Rookie': Will
OPINION
Sep 23, 2008 10:47 AM CDT

McCain Acting Like a 'Flustered Rookie': Will

Conservatives should fear self-righteous loose cannon

(Newser) - The economic crisis has one presidential candidate acting like a “flustered rookie,” writes George F. Will of the Washington Post, but despite his limited resume, “It is not Barack Obama.” McCain’s response has been incoherent, including a Queen of Hearts-esque call for SEC Chairman...

Americans Blame GOP for Economy by 2-to-1

(Newser) - Voters blame the GOP over Democrats for the Wall Street crisis by a 2-to-1 margin that may be boosting Barack Obama's overall numbers, a new poll says. Nearly half of Americans pinned blame on Republicans while only about a quarter held Democrats responsible. And Obama held a 10-point lead among...

How You Know It's a Crisis: Oprah Is Bailer-Out-in-Chief

Culture11 lists top changes to look for in our new economy

(Newser) - How the Wall Street meltdown will affect our day-to-day existence, per Culture11:
  • Nation's emergency lender: Oprah.
  • Living in sin now OK; sharing a sleeping bag in tent city is new social scourge.
  • Cloning approved to allow for mass creation of Alan Greenspans.
  • Hipsters downgrade their booze from PBR to ethanol.
...

After Meltdown, 'Safe Will Be the New Sexy': Cramer

'Good, clean, old-fashioned banking' is coming back in US markets

(Newser) - A new era has arrived on Wall Street, with the big investment firms falling, James Cramer writes in New York, and traditional banks with large deposit bases looking like the smartest option all along. “We’ll see a more chaste culture emerge from all of this, on Wall Street,...

Raise Your Hand if You Want Part of the Bailout

Lobbying intense as Wall Street firms jockey to profit from rescue

(Newser) - Where there’s $700 billion of government money, there are lobbyists. Financial institutions are jockeying for their piece of the massive bailout bill that’s being rushed through Congress, the New York Times reports, with everyone from insurers to mortgage lenders looking to profit by unloading assets under the most...

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